Check at the county courthouse probate court to look at the file to see how the estate was handled.
If you mean how can an executor change an amount of money to be given to a particular beneficiary, the only way is by consent of all beneficiaries who would be affected by the change. And even if everyone consents, there may be situations where even that would be prohibited.
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
That would be a breach of their fiduciary duties.
money you get payed for somthing like if you go to prison and you didnt do it you get money
The administrator must close out the estate and distribute the remaining assets to the beneficiaries. If there are testamentary reasons to delay the distribution, such as valuation issues, waiting on liquidation of assets, finding heirs or resolving liabilities, distributions can be made prior to the ending of the estate. But their must be a reason to delay closing the estate.
The executor distributes the money to the beneficiaries after the estate's debts have been settled to the satisfaction of the court. Each beneficiary is responsible for what they do with the money. There is no requirement, and it would be detrimental, for the executor to play bookkeeper and accountant and pay of the debts of the beneficiaries of the estate.
Not without breaching their duty to the estate. There are ways they can do that, one of them is if the third person declines to receive their share.
No one is at fault as the bank followed the law. The Executor is the person who should get the money. They are responsible to collect and value the estate and its holdings. Once inventoried and debts cleared, they can distribute the remaining assets to the beneficiaries.
The executor can use the money for the benefit of the estate, not for their personal use. They are entitled to payment for their services.
In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.In certain cases- yes. The executor is entitled to a fee the amount of which is set by law. If there is not enough money in the estate to pay that fee it may have to come out of the gifts to the beneficiaries. The debts of the decedent and costs of administration must be paid before any assets can be distributed to the beneficiaries.
If the will gives the jewelry to the children of the deceased, then they all own all of it equally, meaning no one person is entitled to or may choose any particular item. Some will give the executor the authority to use discretion in giving out specific items to individual beneficiaries. In that case the executor's decisions are final unless that discretion has been abused or not exercised for the equal benefit of all beneficiaries. If the beneficiaries believe that the executor will in the future distribute the items unfairly, there is nothing that can be done. Yet. A court will not take a case on a supposition that something wrong will be done unless there is proof that beneficiaries will suffer some irreparable harm if they have to wait until distribution is made. An example would be if the executor intends to send a family heirloom to someone out of the country and beyond the jurisdiction of the court to get it back. If te executor has made known a plan to distribute jewelry unfairly, beneficiaries can informally tell him they are against it and he should not make distribution. This usually works because an executor does not want to get entangled in litigation in which he might be hit with a damage award that he has to pay out of his own pocket or suffer a loss of his executor's compensation for not doing the job right. If distribution has been made, a lawsuit may be filed in the probate court alleging the unfair distribution and demanding the return of the items, the removal of the executor, the forfeiture of all compensation and payment of money damages by him/her personally. If no agreement can be reached on distribution of items (a common situation) the executor will propose an auction of the items and the proceeds of the auction instead of the jewelry will be distributed to the beneficiaries. This is a common problem because jewelry has both a monetary and a sentimental value. Plus, there may not be enough pieces to go around. And of course the big question usually is Who gets mom's diamond ring? In the end, a court will disregard sentimental value and distribute the jewelry in the only way it can. That is by selling it and giving out the money.
No, you cannot be forced to accept a bequest. You can decline and the money will go to the other beneficiaries.
An heir may decline to accept an inheritance. The executor then has to distribute the assets per the will.
Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.Yes. If the beneficiaries want to keep the property then they must pay off the mortgage from their own funds. The executor has no other options.
An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.
Generally, an executor is in a fiduciary position and thus prohibited from using the assets of an estate for personal use. It should be reported to the court immediately.
The money belongs to her estate. The executor of the estate will distribute it according to the will.